Adding the different measures together, the proposed growth impulse (summarized in Table 1 and Figure 2 below) consists of:
- In 2012 €15 billion of activities funded by the EU-budget (structural funds rededicated) as well as €20 billion of extra EIB loan activity (10 billion financed by EU-budgetary means for risk buffers, €10 billion financed by the capital increase); this implies altogether €35 billion for 2012.
- In 2013, €15 billion funded by EU budget (again rededicated structural funds) as well as €45 billion of extra EIB loan activity (€ 10 billion financed by EU budget for risk buffers, €35 billion financed by capital increase). This implies all together € 60 billion.
- In 2014 and 2015, €25 billion of activities funded by the EU-budget and €35 billion in annual EIB loans (again €10 billion by budgetary means for risk mitigation, and €25 billion of extra loans supported by the capital increase); this totals €60 billion per year.
- Thus over the 2013-2015 period, we have an average of €60 billion a year additional EIB lend- ing and EU budget injections to finance extra investment and working capital; this corre- sponds to about 0.5% of EU annual GDP. As discussed below, this could have a major impact on EU growth and employment.
- From 2016 to 2020, there would be continued €25 billion of additional activities funded by the EU budget.